- 1st phase of 2Fifth Avenue, a RM3 billion integrated development in USJ, Subang Jaya
SUBANG JAYA (Sept 13): Avaland Bhd’s Alora Residences has achieved a take up rate of 50% since its recent launch. Alora Residences, the first phase of 2Fifth Avenue, is a 13-acre integrated development comprising serviced apartments, retail and office components. Avaland was formerly known as MCT Bhd.
The 2.68-acre Alora Residences has a total GDV of RM552 million, comprising 778 serviced apartments and eight retail units on the ground floor, including a drive-through outlet. The devlopment will have serviced apartments will built-ups of 568 to 1,457 sq ft, with options of five layout comprising 1+1 bedrooms, 3 bedrooms and 4 bedrooms configurations. The units’ pricing starts from RM693,800 onwards at RM752 psf.
As for 2Fifth Avenue, located at USJ 25, this is Avaland’s latest modern and sustainable development “that blends urban living with nature and is one of the last large plots of undeveloped commercial land in USJ”, stated Avaland in a media release.
“2Fifth Avenue will be USJ’s latest green development featuring an urban forest sanctuary with lush greenery within the compounds,” it added.
The development also has amenities in the immediate vicinity and is easily accessible via ELITE, KESAS, LDP and Federal highway. 2Fifth Avenue has a GDV of RM3 billion.
“The launch of Alora Residences and 2Fifth Avenue is a major milestone for us as it is our first project launch since our rebranding exercise. With its strategic location, I believe the exciting development of 2Fifth Avenue will inject new life and reinvigorate the community at USJ,” said chief operating officer of Avaland, Aw Sei Cheh, at the launch event.
“At Avaland, we pay attention to people mobility and connectivity. On top of several road system upgrades for the entire 2Fifth Avenue, we are also building a dedicated covered walkway that connects 2Fifth Avenue to the nearest USJ 21 LRT station, which is just 300m away.
“We strive to provide value and quality across all our development and Alora Residences is competitively priced with units starting from RM693,800. This has already yielded positive results as Phase 1 of Alora Residences has achieved a take up rate of 50%,” Aw added regarding the transit-oriented development,” he added.
Alora Residences will come with family-friendly facilities such as a swimming pool, splash pool, herb garden and EV charging facilities at the carpark amongst many other facilities. The development will also have rooftop facilities such as sky gymnasium, sky lounge and multipurpose hall which has panoramic views of its surroundings.
Alora Residences will also have green features that include: 89% of common areas being naturally ventilated, 100% use of efficient sanitary wares and fittings for all units and common areas, a minimum of 20% of green cement use in construction, provision of water purifier and 5-star energy efficient air conditioning for units.
“Alora is officially certified as GreenRE Gold by the Real Estate and Housing Association Malaysia (REHDA). Alora Residences demonstrate exceptional performance in terms of water and energy efficiency, environmental protection, indoor environment quality, and other green features that bring values to our valued customers. All these green features translate into greener and healthier living for resident, and at the same time, bringing the cost of maintenance and utilities downwards,” Aw revealed.
“We are looking at carbon emissions reduction of 330.65 tons of carbon dioxide per year. That is equivalent to planting an estimated 15,000 trees annually. This indirectly lessens carbon emissions, which softens the long-term environmental impact of building construction,” he added.
As for Avaland’s plans for the rest of the year, Aw stated: “We are aiming to maintain our upwards sales trajectory and hope to secure at least RM850 million worth of new sales in FY2023. We are planning to launch 1,776 units of properties with an estimated GDV of RM1.2 billion. Besides Alora Residences, we are also planning to launch Amika Residences in September 2023, which is located next to our Alira Subang Jaya development. We are excited about the opportunities that lie ahead.”
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